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they already agreed to that. i think you heard john boehner say that already. we've had votes in the senate where we've actually gotten rid of tax credits. i think that's a given. and i think the vast majority of americans agree with that. the question is how do you do that and how do you allow taxes to rise at the same time you fix the real problem? and the real problem is uncontrolled entitlement spending and a government that has grown massively. not just under this administration, under republican administration. >> let me turn to senator schumer on this point. >> so you have to approach both sides of it. >> let me turn to senator schumer. i'm going to ask you the same question. if the mandate is compromised, what do democrats have to be prepared to accept as a painful outcome in order to achieve compromise? >> well, i agree with you, the mandate is compromise. that's why we have a divided house and senate. and i think if the house stands for anything it's cut government spending, as tom coburn said, and i think we're going to have to do more of it. we heard the mandate in 2010, where i
.6 trillion of new revenue. boehner had agreed to $800 billion. it's not hard to find $1.2 trillion as a kind of middle ground to that. then you want to have $4 trillion of total deficit reduction, so that leaves $2.8 trillion of spending reductions that have to happen. here's what people miss. we can avoid going over the cliff with the stroke of a pen. they can just extend all this stuff and kick the can down the road. the real question is are we going to have a big deal? are we going to agree on the major spending restraints that we need as well as the tax stuff in order to actually get the deficit under control? and i think the betting on that is less than 50%. i think we have a great shot at it. but it's going to be really, really hard. >> is that the view from wall street, too? they're not totally confident that this is going to happen? >> what you see in the stock market at the moment is that wall street is not totally confident. that's for sure. >> all right. steve, thanks so much. >> pleasure. >>> coming up, independent senator-elect of maine, angus king joins the conversation. he's a
. john boehner still in the house for the time being at the treasury. the president is back in the white house and harry reid is in the senate with a few more seats. why should i believe this would end any more positively than the summer of 2011? >> because again i'm not going to try to talk to you in optimism but let's look at what's changed. you have republican leadership acknowledging for the first time in this debate in public that it's agreed to increase in revenues as part of an agreement that helps restore fiscal balance. that's a very important change. you can debate on what motivated that change, and of course it's true that approach has been a popular very substantial support among the american people. you have a much greater recognition that the economy would benefit on a carefully designed balanced agreement on fiscal reform and putting it off indefinitely is not good for the country. that's important, too. and i also think again if you listen carefully to what people are saying and what many politicians are saying with many elected representatives are saying there's a lot of
Search Results 0 to 8 of about 9 (some duplicates have been removed)

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